Google’s parent company Alphabet has just announced that it plans to raise $80 billion and invest that money in scaling its AI infrastructure. Alphabet will basically sell its own stock to get the cash, with a $30 billion public offering, a $40 billion program allowing the company to sell stock over time, and a $10 billion private placement investment from Warren Buffet’s Berkshire Hathaway.
Alphabet revenue grew 22% year-on-year to $110 billion in the first quarter of this year, while Google reached 350 million paid subscriptions in that quarter across its services.
Alphabet…
Google’s parent company Alphabet has just announced that it plans to raise $80 billion and invest that money in scaling its AI infrastructure. Alphabet will basically sell its own stock to get the cash, with a $30 billion public offering, a $40 billion program allowing the company to sell stock over time, and a $10 billion private placement investment from Warren Buffet’s Berkshire Hathaway.
Alphabet revenue grew 22% year-on-year to $110 billion in the first quarter of this year, while Google reached 350 million paid subscriptions in that quarter across its services.
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